Ahead of the Adani Enterprises’ Rs 20,000-crore follow-on public offering (FPO), Gautam Adani, chairman of the conglomerate, said that the company withstood the market turbulence and emerged stronger.
The FPO will open on January 27 and close on January 31. As part of the FPO roadshow, Adani in a video message said Adani Enterprises FPO is a part of the 10-year capital planning cycle supported by a fully funded and de-risked growth plan that is aligned with the India growth story.
“A time when we are at our strongest with most of our growth is still ahead of us, a time when we are expanding our portfolio, both existing and emerging industries, and at a time when India is well on its path to become a $30-trillion economy by 2050,” Adani noted. There could not be a better launching pad than India and no better launching pad than now as we accelerate the expansion of our portfolio, he said.
“The FPO comes at a unique point of time when our strongest with most of our growth still ahead of us,” Adani said, while adding, “A time when we are expanding our portfolio into both existing and emerging industries, a time when India is well on its path to become a 30 trillion-dollar economy by 2050. There could not be a better launching pad than India. There could not be a better launching pad than now as we accelerate the expansion of our portfolio.”
During the video message, Gautam Adani said, “Sitting at the core of our future growth plans is Adani Enterprises Limited – the entity that has incubated several of the market leading businesses – that today make up the Adani Group’s portfolio of publicly traded companies.”
The business model that Adani Enterprises has established and refined over the past 30 years has allowed the group to consistently deliver record breaking returns, he mentioned.
“Our focus has been on four key sectors – energy and utilities, transportation and logistics, consumer goods, and primary industries. We hold market leading positions in all of these areas. And since our first IPO, 29 years ago in 1994, a rupee invested in Adani Enterprises has grown at a CAGR of 37 per cent, while the Indian stock market has seen a CAGR of 10 per cent gain over the same period,” said Adani.
This portfolio within Adani Enterprises now includes both B2B and B2C businesses that spans: A world leading hydrogen ecosystem, integrated energy value chains, mining services, airports, datacenters, defence, digital apps, roads, media, food, FMCG and industrial manufacturing that includes copper, and petrochemcials.
Each of these sectors is aligned with India’s ambitions of going from an Atmanirbhar Bharat to a Bharat Par Nirbhar world. The tailwinds of a large demographic advantage, fiscal responsibility, strong governance, position as a responsible power in the world – all of these point to this era being India’s era of growth and stability, Adani added.